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Jul 16 2013
Sen. Warren Revives Glass-Steagall, Break up TBTF
Last week Sen Elizabeth Warren (D-MA), along with Senators John McCain (R-Ariz.), Sens. Maria Cantwell (D-Wash.) and Angus King (I-Maine), introduced legislation that rein in the excesses of the Too Big Too Fail banks. The bill would require banks that accept federally insured deposits to focus on traditional lending and would bar them from engaging in risky securities trading. It would also bar banks that accept insured deposits from dealing swaps or operating hedge funds and private equity enterprises.
The legislation introduced today would separate traditional banks that have savings and checking accounts and are insured by the Federal Deposit Insurance Corporation from riskier financial institutions that offer services such as investment banking, insurance, swaps dealing, and hedge fund and private equity activities. This bill would clarify regulatory interpretations of banking law provisions that undermined the protections under the original Glass-Steagall and would make “Too Big to Fail” institutions smaller and safer, minimizing the likelihood of a government bailout.
“Since core provisions of the Glass-Steagall Act were repealed in 1999, shattering the wall dividing commercial banks and investment banks, a culture of dangerous greed and excessive risk-taking has taken root in the banking world,” said Senator John McCain. “Big Wall Street institutions should be free to engage in transactions with significant risk, but not with federally insured deposits. If enacted, the 21st Century Glass-Steagall Act would not end Too-Big-to-Fail. But, it would rebuild the wall between commercial and investment banking that was in place for over 60 years, restore confidence in the system, and reduce risk for the American taxpayer.”
“Despite the progress we’ve made since 2008, the biggest banks continue to threaten the economy,” said Senator Elizabeth Warren. “The four biggest banks are now 30% larger than they were just five years ago, and they have continued to engage in dangerous, high-risk practices that could once again put our economy at risk. The 21st Century Glass-Steagall Act will reestablish a wall between commercial and investment banking, make our financial system more stable and secure, and protect American families.”
Five Facts About the New Glass-Steagall
by Simon Johnson, Bloomberg The Ticker
Naturally, Wall Street will respond with a huge disinformation campaign, saying that the bill would cause the sky to fall. As the debate intensifies, keep in mind the following five points.
1) The bill would actually help small banks, because it would force the taxpayer-subsidized megabanks and related financial companies to break up. [..]
2) The simplifying intent of the 21st century Glass-Steagall Act is complementary to other serious reform efforts underway, including plans for the “resolution,” or managed liquidation, of any financial firm that fails. [..]
3) Proponents of big banks will claim that the breakdown of the original Glass-Steagall Act (which separated commercial and investment banking) did not contribute to the crisis of 2007-08. [..]
4) As the preamble to the 21st century Glass-Steagall Act points out, it represents a convergence with European reform thinking, as seen in the Vickers Report (for the U.K.) and the Liikanen Report (for Europe more broadly). [..]
5) The Treasury Department is not going to welcome the legislation — in fact, it may assist in mobilizing opposition. At this stage, this is an advantage, not a problem. Treasury has a severe case of reform fatigue. It’s time for someone else to carry the ball.
Remember Citigroup
by Simon Johnson, Huffington Post
The strangest argument against the Act is that it would not have prevented the financial crisis of 2007-08. This completely ignores the central role played by Citigroup.
It is always a mistake to suggest there is any panacea that would prevent crises — either in the past or in the future. And none of the senators — Maria Cantwell of Washington, Angus King of Maine, John McCain of Arizona, and Elizabeth Warren of Massachusetts — proposing the legislation have made such an argument. But banking crises can be more or less severe, depending on the nature of the firms that become most troubled, including their size relative to the financial system and relative to the economy, the extent to which they provide critical functions, and how far the damage would spread around the world if they were to fall.
Executives at the helm of Citigroup argued long and hard, over decades, for the ability to expand the scope of their business — breaking down the barriers between conventional commercial banking and all of forms of financial transactions, including the most risky. In effect, the decline of the restrictions established by the original Glass-Steagall — at first gradual but ultimately dramatic — allowed Citigroup to increase the scale and complexity of gambles that it could take backed by deposits and ultimately backed by the government.
What are the chances of this bill getting passed? Probably not all that good considering the Wall St. cronies like Sen. Chuck Schumer (D-NY) who most certainly oppose it. Even if it makes it through the Senate relatively intact in intent, the wild children in the House will most certainly kill it. We need more Liz Warrens in both houses of congress.
Jul 15 2013
Punting the Pundits
“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.
Follow us on Twitter @StarsHollowGzt
Gary Younge: Open season on black boys after a verdict like this
Calls for calm after George Zimmerman was acquitted of murdering Trayvon Martin are empty words for black families
Let it be noted that on this day, Saturday 13 July 2013, it was still deemed legal in the US to chase and then shoot dead an unarmed young black man on his way home from the store because you didn’t like the look of him.
The killing of 17-year-old Trayvon Martin last year was tragic. But in the age of Obama the acquittal of George Zimmerman offers at least that clarity. For the salient facts in this case were not in dispute. On 26 February 2012 Martin was on his way home, minding his own business armed only with a can of iced tea and a bag of Skittles. Zimmerman pursued him, armed with a 9mm handgun, believing him to be a criminal. Martin resisted. They fought. Zimmerman shot him dead.
Who screamed. Who was stronger. Who called whom what and when and why are all details to warm the heart of a cable news producer with 24 hours to fill. Strip them all away and the truth remains that Martin’s heart would still be beating if Zimmerman had not chased him down and shot him.
Paul Krugman: Hunger Games, U.S.A.
Something terrible has happened to the soul of the Republican Party. We’ve gone beyond bad economic doctrine. We’ve even gone beyond selfishness and special interests. At this point we’re talking about a state of mind that takes positive glee in inflicting further suffering on the already miserable.
The occasion for these observations is, as you may have guessed, the monstrous farm bill the House passed last week. [..]
So House Republicans voted to maintain farm subsidies – at a higher level than either the Senate or the White House proposed – while completely eliminating food stamps from the bill.
n the war against inequality, we’ve become so used to bad news that we’re almost taken aback when something positive happens. And with the Supreme Court having affirmed that wealthy people and corporations have a constitutional right to buy American elections, who would have expected it to bring good news? But a decision in the term that just ended gave ordinary Americans something that is more precious than money alone – the right to live.
At first glance, the case, Association for Molecular Pathology v. Myriad Genetics, might seem like scientific arcana: the court ruled, unanimously, that human genes cannot be patented, though synthetic DNA, created in the laboratory, can be. But the real stakes were much higher, and the issues much more fundamental, than is commonly understood. The case was a battle between those who would privatize good health, making it a privilege to be enjoyed in proportion to wealth, and those who see it as a right for all – and a central component of a fair society and well-functioning economy. Even more deeply, it was about the way inequality is shaping our politics, legal institutions and the health of our population.
Richard (RJ) Eskow: It’s College Students vs. the Corporate Machine — and the Machine’s Winning
Once this nation saw higher education as a citadel of learning, growth and opportunity. Now student debt is being used as a cash cow to subsidize corporate tax breaks, while universities become incubators for corporate employees and cheap laboratories for private-sector patents.
The new student loan deal being cooked up in Washington is part of a larger picture. The forces of technology, globalization and wealth are calling the shots in government nowadays, and they’ve got higher education in their sights. Corporations want colleges and universities to serve them, not students.
In the dystopian future unfolding before our eyes, whole segments of the population are being offered up to the Corporate Machine. And unless we reject the corporate commodification of our common humanity, there’s no end in sight.
Monte Frank: The Holocaust taken in vain to promote gun rights
The cynicism of the pro-gun lobby – with its Nazi comparisons for those who advocate controls – knows no bounds of decency
Never again. Since the end of the second world war, Jews the world over have pledged that the Holocaust can never happen again.
The guns rights lobby has perverted this pledge for their own use – to advocate against stricter gun safety laws. The NRA’s Wayne LaPierre has argued that firearm registration in Germany in 1938 helped lead to the Holocaust. Charlton Heston rallied NRA members by connecting gun rights with the Holocaust by declaiming “first comes registration and then confiscation”. At the NRA convention this past May, conservative media personality Glenn Beck likened New York Mayor Michael Bloomberg to a Nazi. And just in the last couple of weeks, former cop and pro-gun pundit Frank Borelli, speaking on NRA News, applauded sheriffs in Maryland who refused to enforce that state’s recently adopted gun safety laws by distinguishing them from Nazi guards who followed orders in the death camps.
César Chelala: It is Criminal to Execute the Mentally Disabled
The planned execution on July 15 of Georgia prisoner Warren Hill-who has been diagnosed as ‘mentally disabled’-is a gross violation of U.S. federal laws and specifically of the 8th amendment that reads, “Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishment inflicted.’ The U.S. Supreme Court has ruled that criminal sentences that are inhumane, outrageous, or shocking to the social conscience are cruel and unusual.
This is based on a 2002 Supreme Court ruling-Atkins v. Virginia-that outlawed the death penalty for prisoners considered mentally disabled. That ruling had left a small gap according to which death penalty states were left to define the legal standard under which ‘mental retardation’ also known as ‘intellectual disability’ is defined.
Jul 15 2013
On This Day In History July 15
This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.
Find the past “On This Day in History” here.
Click on images to enlarge
July 15 is the 196th day of the year (197th in leap years) in the Gregorian calendar. There are 169 days remaining until the end of the year.
On this day 1789, Lafayette selected colonel-general of the National Guard of Paris
Only one day after the fall of the Bastille marked the beginning of a new revolutionary regime in France, the French aristocrat and hero of the American War for Independence, Marie-Joseph Paul Roch Yves Gilbert du Motier, Marquis de Lafayette, becomes the colonel-general of the National Guard of Paris by acclamation. Lafayette served as a human link between America and France in what is sometimes known as The Age of Revolutions.
National Guard, Versailles, and Day of Daggers
On 15 July, Lafayette was acclaimed commander-in-chief of the National Guard of France, an armed force established to maintain order under the control of the Assembly. Lafayette proposed the name and the symbol of the group: a blue, white and red cockade. On 5 October 1789, a Parisian crowd, composed mostly of rough women working in the markets selling fish, marched to Versailles in response to the scarcity of bread. Members of the National Guard followed the march, and when Lafayette said that this march is non-sense, the National Guard’s men openly defied his power and according to some sources, they said “We are going with you, or over you”, then Lafayette reluctantly led the National Guard army to Versaille. At Versailles, the king accepted the Assembly’s votes but refused requests to return to Paris. That evening, Lafayette replaced most of the royal bodyguards with National Guardsmen. At dawn, the crowd broke into the palace. Before it succeeded in entering the queen’s bedroom, Marie Antoinette fled to the king’s apartments. Lafayette took the royal family onto the palace balcony and attempted to restore order. The crowd insisted that the king and his family move to Paris where they were installed in the Tuileries Palace. At the balcony, King Louis simply appeared, and everyone started chanting “Vive le Roi!”. Then when Maria Antoinette appeared with her children, she was told to send the children back, afterwards, when she came out alone, people shouted to shoot her, but when she stood her ground facing almost certain death, no one opened fire. After several seconds and the lowering of rifles, people started to chant “Vive la Reine!” (“Long live the Queen”, now the crowd is including the Queen)As leader of the National Guard, Lafayette attempted to maintain order. On 12 May 1790, he instituted, along with Jean Sylvain Bailly (mayor of Paris), a political club called the “Society of 1789” . The club’s intention was to provide balance to the influence of the Jacobins. On 14 July 1790, Lafayette took the civic oath on the Champs de Mars, vowing to “be ever faithful to the nation, to the law, and to the king; to support with our utmost power the constitution decreed by the National Assembly, and accepted by the king.”
He continued to work for order in the coming months. On 20 February 1791, the Day of Daggers, Lafayette traveled to Vincennes in response to an attempt to liberate a local prison. Meanwhile, armed nobles converged around the Tuileries, afraid the unprotected king would be attacked. Lafayette returned to Paris to disarm the nobles.[89] On 18 April, the National Guard disobeyed Lafayette and stopped the King from leaving for Saint-Cloud over Easter.
Jul 14 2013
Rant of the Week: Bill Maher’s New Rules
MAHER: And finally, New Rule, that the only plan we have for immigration reform is a military style surge, that wastes $46 billion for weapons, walls, prison camps and forty thousand armed guards in the desert, it’s not a plan. It’s a war. A war, to replace the wars that are ending overseas.
Because after our last soldier leaves the wildly successful experiment in democracy known as Afghanistan, we’re going to be dangerously close to not having any wars and down to a mere 660 military bases in 38 countries. Jesus, what are we Switzerland now?
Sorry Mexicans, but war is what keeps our economy going, so you’re just going to have to step up. The war on terror just got replaced by the war-hay on Jorge. That’ll teach you to take over channels 18-27 on our cable systems.
Now, don’t get me wrong. I think border security is important and I have no doubt that the Republican plan for turning our southern border into the Hunger Games will put a stop to the number one threat facing America today – illegal cleaning ladies.
But let’s be clear. This immigration bill has about as much to do with immigration as Sarah Palin has to do with mapping the human genome.
Mexican immigration to America is now at net zero. That’s the little elephant in the room fact they don’t tell you. They’re not coming any more. Which is not to say there aren’t illegals already here over the last thirty years. 12 million Mexicans did come to America, in three cars.
But look, if we deport all 12 million people, the continent will tip over. We need to get them in the system, because sooner or later, someone’s going to want to eat some fruit. So, why are we working so hard to make them miserable?
The immigration bill says that while in America, they have to wait 13 years to become a citizen, learn to speak perfect English, pay taxes, but don’t get to use government services and hope to hell some dumb ass in the neighborhood watch program doesn’t shoot them.
This bill could say “Mexicans eat paint” and Republican would say “Why not lead paint?”
Now part of this, of course, is simple prejudice, but the bigger part is that peace and brotherhood is all fine and dandy, but there’s no money in it. Ten years ago, there were 10 thousand border control agents. Now there are 21 thousand. The new bill would up it to 38 thousand.
Why? Because Republicans hate big government – except for war – which is their version of a stimulus package. Oh, not the bad kind of stimulus that builds schools and fixes bridges. That’s Socialism.
Building weapon systems no one needs, that’s patriotism. This is about the same folks who frittered away your money on the phoney Iraq war, and the ten years in Afghanistan and the pointless drug war deciding that what this country really needs is yet another phoney war.
h/t Heather at Crooks and Liars
Jul 14 2013
Obama Explains NSA Surveillance
President Obama explains why Americans should not be concerned about the NSA’s secret data collection program and that he is very different from George W. Bush.
With special thanks to Mike Masnick at Techdirt who also provided a partial transcript of his favorite lines which, as he says, is most of the video.
Warning: Do Not Eat or Drink While Watching
Jul 14 2013
On This Day In History July 14
This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.
Find the past “On This Day in History” here.
Click on images to enlarge
July 14 is the 195th day of the year (196th in leap years) in the Gregorian calendar. There are 170 days remaining until the end of the year.
On this day in 1790, the citizens of Paris celebrate the constitutional monarchy and national reconciliation in the Fête de la Fédération.
The Fête de la Fédération of the 14 July 1790 was a huge feast and official event to celebrate the establishment of the short-lived constitutional monarchy in France and what people of the time considered to be the happy conclusion of the French Revolution, the outcome hoped for by the monarchiens.
The Fête de la Fédération in Paris was the most prominent event of a series of spontaneous celebrations all over France: from August 1789, Fédérations appeared in towns and countryside; on 5 June 1790, with lots of individual feasts to celebrate the new state of France, a constitutional monarchy. The National Assembly approved the suggestion by the Commune de Paris to organise a “general Federation”. Organised late, it was largely an improvisation. The idea was not to contest the legitimacy of the king Louis XVI, but to show the general will for stable institutions and a national reconciliation and unity. In the words of Jean Sylvain Bailly, astronomer and mayor of Paris: “We suggest that this meeting (…) be sworn on the next 14 July, which we shall all see as the time of liberty: this day shall be spent swearing to uphold and defend it”. Charon, President of the Commune of Paris, stated: “French, we are free! French, we are brothers!”.
The event took place on the Champ de Mars, which was at the time far outside Paris. The place had been transformed on a voluntary basis by the population of Paris itself, in what was recalled as the Journée des brouettes (“Wheelbarrow Day”).
The feast began as early as four in the morning, under a strong rain which would last the whole day (the Journal de Paris had predicted “frequent downpours”).
14 000 Federated (Fédérés) came from the province, every single National Guard unit having sent two men out of every hundred. They were ranged according to their département under 83 banners. They were brought to the place were the Bastille once stood, and went through Saint-Antoine, Saint-Denis and Saint-Honoré streets before crossing the temporary bridge and arriving at the Champ de Mars. Deputies from other nations, “Swedes, Spaniards, Polacks, Turks, Chaldeans, Greeks, and dwellers in Mesopotamia,” representatives of the human race, “with three hundred drummers, twelve hundred wind-musicians, and artillery planted on height after height to boom the tidings all over France, the highest recorded triumph of the Thespian art.”
A mass was celebrated by Charles Maurice de Talleyrand, bishop of Autun under the Ancien Régime. The very popular General marquis de La Fayette, as both captain of the National Guard of Paris and confident of the king, took his oath to the Constitution:
” We swear forever to be faithful to the Nation, to the Law and to the King, to uphold with all our might the Constitution as decided by the National Assembly and accepted by the King, and to protect according to the laws the safety of people and properties, transit of grains and food within the kingdom, the public contributions under whatever forms they might exist, and to stay united with all the French with the indestructible bounds of brotherhood[ ”
It is noticeable that at this time, the French Constitution of 1791 was not yet written; it would only take effect in September 1791. La Fayette was followed by the President of the National Assembly. Eventually, Louis XVI took his oath
” I, King of the French, I swear to use the power given to me by the constitutional law of the State, to maintain the Constitution as decided by the National Assembly and accepted by myself, and to enforce the laws. ”
The style “King of the French”, used for the first time instead of “King of France (and Navarre)”, was an innovation intended to inaugurate a “popular monarchy” which linked the monarch’s title to the people, not to the territory of France.
The Queen rose and showed the Dauphin, future Louis XVII, saying :
” This is my son, who, like me, joins in the same sentiments.[5] ”
With the permission of the National Assembly, a delegation of the United States of America, led by John Paul Jones, founder of the US Navy, joined the feast. It also included Thomas Paine, James Swan, Georges Howell, Benjamin Jarvis, Samuel Blackden, Joel Barlow and William Henry Vernon. The delegation arrived at the Champ de Mars with its flag, the first instance ever of a US flag flown outside of the USA, and was cheered by the people.
Jul 14 2013
Punting the Pundits: Sunday Preview Edition
“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.
Follow us on Twitter @StarsHollowGzt
The Sunday Talking Heads:
Up with Steve Kornacki: Joining Steve Kornacki at the table will be: Kasie Hunt, political producer, NBC News; Former Rep. Tom Perriello, (D) Virginia, president & CEO of Center for American Progress Action Fund; Former Gov. Jane Swift, (R) Massachusetts; Michael Brendan Dougherty, editor, TheSlurve.com; Former Gov. Douglas Wilder (D) Virginia; Liz Kennedy, counsel, Demos.org; Ken Gross, attorney, Skadden Arps; and Nick Acocella, writer, editor, publisher PolitiFax.
This Week with George Stephanopolis: Sunday on “This Week” the guests are former New York Gov. Eliot Spitzer; Rep. Karen Bass (D-CA); Rep. Tom Cole (R-OK); Sen. Orrin Hatch (R-UT); and Sen. Amy Klobuchar (D-MN).
Sitting at the roundtable are Wall Street Journal editorial page editor Paul Gigot; Politico senior political reporter Maggie Haberman; New York Times Magazine chief national correspondent Mark Leibovich, author of the new book “This Town“; and television and radio host Tavis Smiley.
Face the Nation with Bob Schieffer: Mr. Schieffer’s guests are Israeli Prime Minister Benjamin Netanyahu; Rep. Mario Diaz-Balart (R-FL); Reps. Pete King (R-NY) and Mike Kelly (R-PA); and Sen. Dick Durbin (D-IL).
The Chris Matthews Show: This Sunday’s panel guests are Chuck Todd, NBC News Chief White House Correspondent; Katty Kay, BBC Washington Correspondent; Kelly O’Donnell, NBC News Capitol Hill Correspondent; and David Ignatius, The Washington Post columnist.
Meet the Press with David Gregory: This week’s MTP guests are : Majority Leader Sen. Harry Reid (D-NV); Minority Leader Sen. Mitch McConnell (R-KY); and Rep. Tom Cotton (R-AR).
The guests at the roundtable are Rich Lowry, editor of National Review; Former Democratic Governor of New Mexico Bill Richardson; President of the Center for American Progress Neera Tanden; and Republican Strategist as well as former senior strategist to the McCain-Palin campaign Steve Schmidt.
State of the Union with Candy Crowley: Ms. Crowley’s guests this Sunday are Gov. Rick Perry (R-TX); Gov. Pat Quinn (D-IL); Rep. Raul Grijalva (D-CA); Rep. Chaka Fattah (D-PA); and NAACP President Ben Jealous.
Jul 14 2013
What We Now Know
On this week’s segment of “What We Now Know,” Up host Steve Kornacki discusses what they have learned with guests Ana Marie Cox, political columnist, The Guardian; Blake Zeff, columnist & politics editor, Salon.com; Michelle Bernard, The Bernard Center for Women, Politics & Public Policy; and Rep. Robin Kelly (D-IL).
Rare film depicts Franklin Roosevelt in wheelchair
Published on Jul 10, 2013
Footage courtesy of the US National Archives.
A professor at an Indiana college says he has found film footage showing President Franklin Delano Roosevelt being pushed in his wheelchair, depicting a secret that was hidden from the public until after his death.
Ray Begovich, a journalism professor at Franklin College south of Indianapolis, said on Tuesday he found the eight-second clip while doing unrelated research in the National Archives in College Park, Maryland. The National Archives and the FDR Presidential Museum and Library could not say for certain if other such footage exists, but both said it is at least rare.
When Florida lawmakers recently voted to ban all Internet cafes, they worded the bill so poorly that they effectively outlawed every computer in the state, according to a recent lawsuit.
In April Florida Governor Rick Scott approved a ban on slot machines and Internet cafes after a charity tied to Lt. Governor Jennifer Carroll was shut down on suspicion of being an Internet gambling front] — forcing Carroll, who had consulted with the charity, to resign.
Florida’s 1,000 Internet cafes were shut down immediately, including Miami-Dade’s Incredible Investments, LLC, a café that provides online services to migrant workers, according to the Tampa Bay Times.
Sarah Palin Senate Poll Finds Few Want Her To Hold Office Again
The former Alaska governor said Tuesday on “The Sean Hannity Show” that she has “considered” a 2014 run for the Senate seat currently held by Sen. Mark Begich (D-Alaska). [..]
But the chair of Alaska’s Republican Party has said that he has not spoken to Palin about a possible Senate run or any other topic.
Although many may not want her to win, poll respondents were evenly divided, 39 percent to 39 percent, on the specific question of whether Palin should run for the Senate next year.
Jul 13 2013
Health and Fitness News
Welcome to the Health and Fitness NewsWelcome to the Stars Hollow Health and Fitness News weekly diary. It will publish on Saturday afternoon and be open for discussion about health related issues including diet, exercise, health and health care issues, as well as, tips on what you can do when there is a medical emergency. Also an opportunity to share and exchange your favorite healthy recipes.
Questions are encouraged and I will answer to the best of my ability. If I can’t, I will try to steer you in the right direction. Naturally, I cannot give individual medical advice for personal health issues. I can give you information about medical conditions and the current treatments available.
You can now find past Health and Fitness News diaries here and on the right hand side of the Front Page.
Follow us on Twitter @StarsHollowGzt
Apricots are an early summer fruit, and their short season is now. They’re worth buying, for the purposes of both taste and nutrition, only when you can find them ripe. You don’t want them so ripe that they bruise as soon as you put them into a bag – they should be slightly firm to the touch, as apricots ripen from the inside out – but if they were picked green they will have little flavor, and they’ll have that mealy texture that describes a bad apricot.
The fact that 95 percent of the apricots grown in the United States are from California doesn’t mean that you can’t find good ones that were picked at the right time if you live elsewhere. Whole Foods watches the crops carefully and sells all of the terrific varieties, like Blenheims, that we find out here in California in our farmers’ markets. I’m lucky to live in Southern California, where the apricot season is longer than in other parts of the state (mid-May to mid-August; it ends in mid-July in Northern California), so I’ve already had some time to work on this year’s apricot recipes.
~Martha Rose Shulman~
A delicious combination of earthy/nutty crepes and sweet and tangy apricots.
Apricot Crumble With Oatmeal Topping
A topping prepared ahead of time means this satisfying dessert takes only 20 minutes to bake.
Pan-Cooked Chicken Scaloppine With Spiced Roasted Apricots
Roasted apricots go well with savory dishes like these chicken breasts, or your vegetarian favorite.
Soufflé Omelet With Apricot Sauce
Beaten egg whites keep this Cointreau-spiked dessert omelet light and airy.
Simple, rustic tarts show off peak-season fruit.
Jul 13 2013
Punting the Pundits
“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.
Follow us on Twitter @StarsHollowGzt
David Dayen: New student loan “fix” is a sham
Congress may claim its latest compromise will lessen your burden – but read the fine print and the truth comes out
or all the talk of Congress supposedly working to “fix” the student loan crisis, it’s actually on the verge of making the battle over the loans’ interest rates worse. A long-term compromise under discussion will allow the government to actually extract more money from borrowers over the long term – while doing nothing to reform the terrible terms of student loans, mitigate the crisis for current borrowers, or fundamentally overhaul the broken system of higher education finance. [..]
The point is that the student loan interest rate was really a tiny speck of the massive amount of work that needs to be done to end this perverse system, where 18-year-olds cannot make sensible plans for their own future without burying themselves in debt with no hope of escape. That Congress managed to botch even the interest rate issue does not bode well for tackling the broader problem. If any good can be drawn from it, however, it’s that a movement of student borrowers, aware of the unfairness of the current system, has been activated. Hopefully they can become loud enough that politicians can no longer avoid them.
New York Times Editorial Board: Missing: The Food Stamp Program
“We’ll get to that later.” That was the dismissive answer of Speaker John Boehner on Thursday, when asked if the House would restore the food stamp program it had just coldly ripped out of the farm bill. “Later,” he said, Republicans will deal with the nation’s most important anti-hunger program. “Later,” maybe, they will think about the needs of 47 million people who can’t afford adequate food, probably by cutting the average daily subsidy of $4.39. [..]
The choice made by the House in cutting apart the farm bill was one of the most brutal, even in the short history of the House’s domination by the Tea Party. Last month, the chamber failed to pass a farm bill that cut $20.5 billion from food stamps because that was still too generous for the most extreme Republican lawmakers. So, in the name of getting something – anything – done, Mr. Boehner decided to push through just the agriculture part of the bill.
Self-delusion is a sad spectacle. Watching Republicans convince themselves that killing immigration reform actually helps the GOP is excruciating, and I wish somebody would make it stop.
House Speaker John Boehner’s unruly caucus has been busy convincing itself not to accept or even modify the bipartisan immigration bill passed by the Senate. Rather, it wants to annihilate it. It’s not that these Republicans want a different kind of comprehensive reform, it’s that they don’t want comprehensive reform at all.
Benjamin Todd Jealous: America’s Yawning Racial Wealth Gap
This August marks the 50th anniversary of the historic March on Washington for Jobs and Freedom. Best remembered for Dr. King’s “I Have a Dream” speech, the march served as a catalyst for national action on poverty and economic injustice. Though we have seen progress since 1963, the economic component of King’s civil rights agenda remains very much unfinished. Today, the gaping economic disparities between the rich and the rest in the United States are even more pronounced for African-Americans.
Since the 1980s, as inequality has increased dramatically in the United States, there has been a steady increase in the racial wealth divide. Before the Great Recession, middle- and high-income African-Americans saw their levels of wealth stagnate or decrease, while middle- and high-income whites their wealth increase over the last 30 years. Since the beginning of the Great Recession in 2007, the gap has only widened. On average, white families have more than $113,000 in wealth, whereas African-Americans have an average of less than $5,700.
David Sirota: How Cash Secretly Rules Surveillance Policy
Have you noticed anything missing in the political discourse about the National Security Agency’s unprecedented mass surveillance? There’s certainly been a robust discussion about the balance between security and liberty, and there’s at least been some conversation about the intelligence community’s potential criminality and constitutional violations. But there have only been veiled, indirect references to how cash undoubtedly tilts the debate against those who challenge the national security state.
Those indirect references have come in stories about Booz Allen Hamilton, the security contractor that employed Edward Snowden. CNN/Money notes that 99 percent of the firm’s multibillion-dollar annual revenues now come from the federal government. Those revenues are part of a larger and growing economic sector within the military-industrial complex – a sector that, according to author Tim Shorrock, is “a $56 billion-a-year industry.”
Ralph Nader: Shame on Walmart!
When one considers Walmart’s company slogan — “Save money. Live better.” — it almost seems as if they are referring to their corporation’s big shareholders — the super-rich Walton family — rather than their employees or the communities they squeeze. After all, Walmart is the same company that has recently made headlines for firing workers for verbally protesting against unfair wages and lack of health care benefits. This situation forces Walmart employees to work second jobs or rely on government assistance to make ends meet.
According to a recent report from the U.S. House Committee on Education and the Workforce, the low wages provided by a single Walmart store costs taxpayers upwards of $1 million in governmental support for those workers and their dependents. “The report finds that a single 300-employee Wal-Mart Supercenter in Wisconsin may cost taxpayers anywhere from $904,542 to nearly $1.75 million per year, or about $5,815 per employee. Wisconsin has 100 Wal-Mart stores, 75 that are Wal-Mart Supercenters.”
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